EUR/USD technical analysis: Euro drops to fresh weekly lows, breaking below the crucial 1.1160 support

 |  14/08/2019 14:16
  • EUR/USD is trading at fresh weekly lows below the 1.1160 key level.
  • The market has room to potentially fall towards the 1.1130 and 1.1106 levels.
 

EUR/USD daily chart

 
On the daily time-frame, the single currency is capped by the 1.1220/55 resistances and the 50/100-day simple moving averages (DSMAs). 
 

EUR/USD 4-hour chart

 
EUR/USD is attempting to break below the 1.1160 support and the 100 SMA. If the bears succeed, they can drive the market down to the 1.1130 and 1.1106 supports. Immediate resistances are seen at 1.1160,1.1200 and 1.1220, according to the Technical Confluences Indicator. 

  

Additional key levels

 

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